The paper aims to propose a theoretical framework that brings together all the determinants behind VC investment decisions in startups, assessing the relevance of determinants in uncertain times. Specifically, we explore whether these determinants are subject to change during periods of high uncertainty, such as that generated by the covid-19 pandemic. We conducted a literature review drawing a taxonomy of VC determinants. In the literature review, we have recognized 4 determinants: localness, networking, startup industry and entrepreneurial team. Later this we have developed semi-structured interviews to test the relevance of identified determinants. Interviews are directed to 5 VC experts. Results show a relevant emphasis for the entrepreneurial team and networking determinants, while a moderate relevance for the localness and industry.